Duisburg is located in the western state of North-Rhine Westphalia and lies at the junction of Germany’s two main rivers, the Rhine and Ruhr. With a population of 498,110 as of 2017, it is the fifth largest city in the state with an area of 232 km².
Duisburg’s port is the world's largest inland port making it a hub for logistics in central Europe. The port is well connected to all mediums of transport making it an ideal location for global trade. Popularly known as the steel city, it hosts firms such as ThyssenKrupp Stahl AG and Hüttenwerke Krupp Mannesmann GmbH.
The residential real estate market in Duisburg was extremely active in the year 2017 with more than 500 properties sold and a turnover volume of €223 million.
The increasing real estate prices and shortage of properties in major cities such as Cologne and Düsseldorf have shifted focus towards smaller cities such as Duisburg and Bonn. Prices for residential apartments were between €1,000/sqm and €1,400/sqm for prime location including the Wedau district. However, the price range for average locations were between €480/sqm to €750/sqm, basic locations offered €300/sqm to €500/sqm in 2018.
Furthermore, condominiums in Duisburg were priced between €1,080/sqm on an average, while rents for new lease were priced at €6/sqm in 2018. High unemployment rate and low income are one of the reasons for moderate growth in the city.
Germany's strong economic growth has resulted in price increases across German cities: On average the prices doubled in the last 10 years. Rents also follow the house price development in Germany: the average increase amounts to 50% between 2008 and 2018.
In Duisburg, purchase prices for condominiums were priced at €1,080/sqm with average rent of €6/sqm in 2018.
The below figure depicts the purchase prices in Duisburg and other German cities for 2018.
LoanLink is a German mortgage broker specialized in the Duisburg real estate market. We also help expats and foreign investors get a mortgage. Our Duisburg mortgage broker team will advise you in English, and our online platform will find the best mortgage rates from among 400+ regional and global German banks.
You can access our platform any day of the week, at any time, to find help with a German mortgage. Not only that, our mortgage calculator can also show you how much you can borrow, and what your monthly payments may be. And best of all, our resources are in English and are completely free.
LoanLink is registered and controlled by the surveillance authority in Duisburg.
Can’t find what you’re looking for here? We’ve got more answers on our FAQs page.
When buying a property in Duisburg, you always have to pay for additional fees, such as real estate tax, real estate agent fees, notary costs etc. In Germany, purchase fees may be up to 15% of the property’s purchase price. Similar to a down payment, real estate purchase fees should be covered by the buyer’s own equity instead of a bank mortgage. In Duisburg, the approximate additional purchase fees are as follows:
Real estate tax: 6.50%
Real estate agent fees: 3.57%
Notary costs: 2%
Total costs: 12.07%
For more information in regards to the additional fees you would pay when buying a property in Duisburg, please check out our mortgage calculator for a more accurate calculation.
Altogether, the timeline depends on you. If you have all relevant documents ready the process can take only a few days. In case you want to be covered as fast as possible, please let us know. We have direct relationships to the credit departments of our partner banks and can accelerate the process.
As soon as you decide to buy, there are several good resources for locating a property in Germany. A few of the most common resources are the major residential real estate pages like immobilienscout24.de or immowelt.de.
Additionally, you can approach local real estate agents or the construction company. Also, please approach us. We have partners in Frankfurt, Berlin, Munich, Hamburg or Stuttgart who are ready to help.
Once you decide to purchase property in Germany, contact the LoanLink undefined Mortgage brokers via live chat, email or phone. Whenever you have a spare minute, you can also read our German mortgage blog to learn more.
In essence, a mortgage broker is an intermediary who brokers mortgage loans on behalf of individuals. We compare the mortgage products with an algorithm that spots the best deal for you. Accordingly, you can either visit us in Berlin or Frankfurt or you can simply use our online application process. It’s all digital!